What due dilligence should a wholesaler do?

[Ryan Dossey]

People who have bought from wholesalers or wholesaled what do you think?

Should they make sure permits were pulled? Check for violations with county? Have any actual inspections done? Provide a scope of work for buyers? 

I can tell you that I personally have done a mixture. I have taken care of violation fines out of profits as a term of sale, I have provided a scope of work, I have passed on septic inspection footage, etc. 

My thought is that while it may make it easier to wholesale the home it could come back to bite you. For instance if you provide a scope of work and there are things that were unaccounted for your end buyer could feel "cheated". 

What do you guys think?

[Jacob Michaels]

Although it would be nice to have a detailed scope of work, I often will just provide what basic info I know about the property to the buyers and let them look at it and make their own decision. I tell them what I know and make no representation more than that. I often don't even give a repair estimate, because I could be off on the numbers. Just the basics. 

They understand this, and they do up their own assessments based on their eyes. Haven't had a problem with this.